Hong Kong Strike

Strikes and demonstrations by dockworkers at the Port of Hong Kong in early 2013 targeted facilities operated by Hongkong International Terminals, a subsidiary of Hutchison Port HoldingsTrust. HIT operates five terminals in Hong Kong, including Container Terminal 8 East, a joint venture with Cosco.

News & Analysis

The loss of a mega-ship could "rewrite the law of general average," costing more than $1 billion, former container ship captain and maritime risk expert Andrew Kinsey said at the 16th annual TPM Conference. Captain Michael Lloyd warned losses such as the sinking of the MOL Comfort could become more common.

A strike by dockworkers at Hongkong International Terminals is entering its third week, but, despite the size and importance of Hong Kong as a gateway to China, the job action so far has had minimal impact on imports and exports at U.S. ports.

Hutchison Port Holdings’ earnings are expected to struggle in fiscal year 2013, as labor disruption at the Port of Hong Kong is likely to drive up wages and limit Hongkong International Terminals’ subcontracted labor flexibility...